Goods and services tax compliance within the property sector continues to be a key area of focus for the Australian Taxation Office. This article considers the legal framework which applies to GST and real property. The article covers the classification of property for GST purposes as “residential premises”, “commercialpremises” and “new residential premises”, and concessions for property transactions such as the going concern, margin scheme and farmland concessions.

Risk areas to be aware of are discussed, such as adjustments under Div 129 of the A New Tax System (Goods and Services Tax) Act 1999 (Cth) where there is a change in use of property, and liability for GST under a joint venture or tax law partnership. In each case, an update is provided of recent cases, legislative developments and the ATO’s refined position as published in various rulings.

Author profiles

Bastian
Gasser
ATI

Bastian is a Partner in the Tax team at Minter Ellison in Melbourne, specialising in GST. Bastian has over 10 years experience in consulting and advising Australian and foreign corporates, government departments, statutory authorities,
charitable entities and superannuation and infrastructure funds on GST law.
- Current at
02 June 2014

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